Bernstein Upgrades ARM Holdings plc (ADR) to Market Perform

Brokerage firm Bernstein Upgrades its rating on ARM Holdings plc (ADR)(NASDAQ:ARMH). The shares have been rated Market Perform. Previously, the analysts had a Underperform rating on the shares. The rating by Bernstein was issued on Jul 21, 2016.

ARM Holdings plc (ADR) (ARMH) made into the market gainers list on Wednesdays trading session with the shares advancing 1.55% or 1.01 points. Due to strong positive momentum, the stock ended at $66.3, which is also near the day’s high of $66.32. The stock began the session at $65.75 and the volume stood at 73,36,214 shares. The 52-week high of the shares is $67.48 and the 52 week low is $36.68. The company has a current market capitalization of $31,215 M and it has 47,08,12,280 shares in outstanding.

ARM Holdings plc (ADR)(ARMH) last announced its earnings results on Apr 20, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $398.00M. Analysts had an estimated revenue of $271.49M. Earnings per share were $0.36. Analysts had estimated an EPS of $0.35.

ARM Holdings plc (ARM) is a United Kingdom-based company engaged in designing of microprocessors physical intellectual property (IP) and related technology and software and sale of development tools. The Company’s offers products such as 16/32/64-bit RISC microprocessors data engines graphics processors digital libraries embedded memories peripherals software and development tools as well as analog functions and high-speed connectivity products. The Company’s product offering includes microprocessor Cores physical IP development tools and support and maintenance services. ARM licenses and sells its technology and products to international electronics companies which in turn manufacture market and sell microprocessors application-specific integrated circuits (ASICs) application-specific standard processors (ASSPs) and microcontrollers (MCUs) based on ARM’s technology to systems companies for incorporation into a variety of end products.

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